ProblemsProblem 1In what specific ways (if any) does a college education increase a worker’s productivity? Take somespecial care with this problem.Problem 2In what way is Per Capita GDP a better...

ProblemsProblem 1In what specific ways (if any) does a college education increase a worker’s productivity? Take somespecial care with this problem.Problem 2In what way is Per Capita GDP a better measure of economic well being than GDP? How does this relateto economic problems in the undeveloped world?1Problem 3Is limitless growth possible? Justify your answer thoroughly.Problem 4If GDP is increasing by 3% per year how long will it take GDP to double?2Problem 5Given the same conditions in Problem 4, how long will it take Per Capita GDP to double if the populationgrows at 2%?Internet QuestionsQuestion 1Visit: http://www.heritage.org/index/Default.aspxVisit the Heritage Foundation website page for the Index of Economic Freedom. How does economicfreedom in the U.S. compare to countries in South America and in Europe? How would you expect futureeconomic growth in the U.S. to compare to those nations? Explain.3Question 2Visit: http://www.bea.gov/national/xls/gdpchg.xlsThis site is part of the Bureau of Economic Analysis website. Look at the inflation adjusted data andidentify the periods of negative real economic growth. What might have caused each of these periods ofeconomic decline? You may have to do a little history study. Be sure to relate your response to theeconomic theory offered in class.